Bottazzi, Jean-Marc; Luque, Jaime; Páscoa, Mário - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2010
By introducing repro markets we understand how agents need to borrow issued securities before shorting them : (re)-hypothecation … discounted cash-flows. Existence of equilibrium is granted under limited re-hypothecation, a situation secured by (current or …